All relevant information on the UIC Business Valuation (FIN4043) will be posted on this webpage.

Click to go directly to: (1) Updates, (2) Assessment information, (3) Downloads, (4) Lecture review, (5) Course Outline and Lecture Notes, or (6) Course Details.

 

 

 

 

UPDATES

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Please check here for updates during the semester:

February 3, 2020	Due to the coronavirus, class schedule will be rearranged due to the late start of this semester. Until the rearrangement for class is finalized and announced, please read the relevant chapters of the textbook based on the course schedule below.
	Textbook chapters: chapter 1 || chapter 2 || chapter 3 || chapter 4 || chapter 5 || chapter 6

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ASSESSMENT INFORMATION

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DUE TO THE CORONAVIRUS, CLASS SCHEDULE WILL BE REARRANGED AND WILL BE ANNOUNCED.

ALL in-class quizzes, assignments, mid-term test, and final and supplementary examinations are, unless specifically indicated, INDIVIDUAL effort, meaning that you should work on your own material and any unscholarly actions prohibited by the school must be avoided.

I will post ALL relevant course materials, updated information, correspondences, and relevant student questions in the UPDATES and DOWNLOADS section on this page. Students are responsble to check the UPDATES section frequently on their own to ensure that they are up-to-date.

The final grade for this course is based on the following components:

Class participation	10%
Midterm test	20%
Group project assignment	20%
Final examination	50%
	100%

Below is a summary of the marking of each component.

Class participation, discussion and assignment (10% of total). Part of the evaluation is based on class attendance, class participation and discussions, and preparation for class. The other part is based on pop quiz, practice questions, or group work that might be provided during class.

Mid-term test (20% of total). The mid-term test will cover Chapters 1 to 6 and date of mid-term test will be determined in the future..

Group project assignment (20% of total). The group project assignment is to complete a group valuation report for a company of your choice. The group project assignment consist of three items: (a) a 15 minutes or less presentation on the industry and firm, fun facts based presentation, (b) an interim report submission due around middle of the semester (optional, only for feedback of this part for the final project submission, and (c) a final group project due on the last day of class. The final project report should be submitted via a hard copy submitted in class AND a soft copy via email to my UIC email account. The date stamp on the email will serve as verification of submittance.

The assignment are marked only based on the quality of analysis in the valuation process and the resulting conclusions. The assignment result will NOT be based on the quantity of the report.

The final group report should have the following components:

Final examination (50% of total).

The final exam will cover all Chapters but more focus will be placed on the Chapters not covered in the mid-term test (i.e. Chapter 7 to 12).

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DOWNLOADS

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Download: course syllabus || assessment rubrics

Textbook chapters: chapter 1 || chapter 2 || chapter 3 || chapter 4 || chapter 5 || chapter 6

Download chapter ppt: ch 1 || ch 2 || ch 3 || ch 4 || ch 5 || ch 6 || ch 7 || ch 8 || ch 9 || ch 10 || ch 11 || ch 12

Chapter questions suggested: ch 1 || ch 2 || ch 3 || ch 4 || ch 5 || ch 6 || ch 7 || ch 8 || ch 9 || ch 10 || ch 11 || ch 12

 

 

 

LECTURE REVIEW

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A summary of our discussion during the lecture:

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COURSE OUTLINE AND LECTURE NOTES

This course outline is tentative and subject to change based on our progress. Please check the UPDATES section and table below for latest information.

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Lecture 1	Introduction and Business models and strategy analysis, Reading: Chapter 1 and 2
February 10, 2020	Recommended HW assign: Ch 1 Q5
Lecture 2	Business models and strategy analysis, Reading: Chapter 2
February 17, 2020	Recommended HW assign: Ch 2 Q6, Q8, Q9
Lecture 3	Overview and implementing of accounting analysis, Reading: Chapter 3 and 4
February 24, 2020	Recommended HW assign: Ch 3 Q5, Q6, Q8
Lecture 4	Overview and implementing of accounting analysis, Reading: Chapter 3 and 4
March 2, 2020	Recommended HW assign: Ch 4 Q6, Q7
Lecture 5	Business and financial forecasting, Reading: Chapter 5 and 6
March 9, 2020	Recommended HW assign: Ch 5 Q4, Q6, Q8
Lecture 6	Business and financial forecasting, Reading: Chapter 5 and 6
Make up class	Recommended HW assign: Ch 6 Q4, Q5
Lecture 7	Valuation theory and concepts, Reading: Chapter 7
March 23, 2020	Recommended HW assign: Ch 7 Q3, Q4
Lecture 8	Valuation theory and concepts, Reading: Chapter 7
March 30, 2020	Recommended HW assign: Ch 7 Q3, Q4
	Mid-term test.
	Chapters 1 to 6.
Lecture 9	Valuation implementation, Reading: Chapter 8
Make up class	Recommended HW assign: Ch 8 Q10
Lecture 10	Equity security analysis, Reading: Chapter 9
Make up class	Recommended HW assign: Ch 9 Q6, Q10
	Credit analysis and distress prediction, Reading: Chapter 10
	Recommended HW assign: Ch 10 Q7, Q10
Lecture 11	Mergers and acquisitions, Reading: Chapter 11
April 20, 2020
Lecture 12	Mergers and acquisitions, Reading: Chapter 11
April 27, 2020	Special topics, Reading: Chapter 12
	Recommended HW assign: Ch 12 Q9
	Group projection final presentations
Lecture 13	Final examination review
May 4, 2020	Group projection final presentations
	Group projection final report due
May 11 to 22, 2020	Final examination

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COURSE DETAILS

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Course	Business Valuation (FIN4043), Semester II (2019-2020)
Prerequisites	FIN2003 Financial Management
Time and Location	Mondays: 9 am to 12 pm
Instructor	Dr. Thomas Wu
Office	T1-302-R3
Office hours	By appointment only Monday 1 pm to 3pm
Email	thomaswu@uic.edu.hk
Website	http://www.drthomaswu.com (all information for this course can be found here)
Teaching Assistant
Office
Email
Aims and Objectives	The objective of this course is to introduce essential business valuation concepts, and applications techniques for students to analyse dynamic business environments of a company, interpret companies’ business models and financial statements, translate business logics and assumptions into financial forecast, and select appropriate valuation methods to ascertain corporate value. This course aims at helping students to be equipped with the essential techniques required by financial analysts.
Notes to Students	1. Students are advised to pre-read the assigned chapter before each lecture.
	2. Students are expected to participate actively in class discussions, ask relevant questions, and share their views.
	3. The use of the Chinese version and/or the photocopied version of the textbook in class is disallowed.
	4. It is absolutely essential for students to complete the homework assignments according to schedule. Students are required to complete the assignments in teams of two and submit to the TAs hard copies of their work for marking. Suggested solutions for homework and self-practice exercises/problems will be available from iSpace.
	5. It is the students’ responsibility to seek help from their respective instructors and teaching assistants. To ensure that your instructor is available for consultation during your desired date and time, please make an appointment with the instructor in advance via email or whilst in class. Teaching assistants are available to help students during their office hours on a first-come, first-served basis. It is advisable that you make an appointment with the TA in advance. Please don’t wait till the last minute to obtain clarification on what you do not understand.
Suggested Textbook	Palepu, K.G., Healy,M. (2013). Business Analysis and Valuation Using Financial Statements, 5th Edition. South-Western, Cengage Learning.
Reference	Koller,T., Goedhart,M. & Wessels D. (2015) Valuation: Measuring and Managing the value of companies. 6th Edition. John Wiley & Sons.
Teaching Method	The course consists of class lectures and tutorials. Students should attend all lectures and tutorials. Attendence will be taken and there is a required minimum attendence level. Students should have read and be familiar with assigned readings and related materials before class. Students should also work through practice questions and be familiar with the use of a financial calculator.
Grading Policy	All university policies concerning acceptable student behavior apply for this course. In particular, unscholarly actions prohibited by the university should be avoided to prevent regretable results from these actions.
Calculator Policy	For this course, a general purpose non-financial calcuator can be used. Students who do not have ready access to a financial calculator should be able to perform all the required analysis and calculations using a general purpose non-financial calculator for the tutorials, assignments, mid-term test, and final examination. You can also use a non-programmable financial calculator for the tutorials, assignment, mid-term test, and final examination. Common financial calculators are HP12c and TI BAII PLUS. Regardless of the types of calculators used for this course, students are responsible for their own equipment and they cannot be shared in a quiz, test, or examination situation. As a result, students MUST bring their own calculators to each class. In addition, each student must be proficient in the use of their own equipment. Electronic translators CANNOT be used for quiz, test, or examination situations, but they can be used during class (only with volume off) and your own study time.

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